Change - Announcement of Cessation::CESSATION OF EXECUTIVE DIRECTOR
Issuer & Securities
SYSMA HOLDINGS LIMITED
SYSMA HOLDINGS LIMITED - SG2F06984247 - 5UO
Change - Announcement of Cessation
Date &Time of Broadcast
Announcement Sub Title
CESSATION OF EXECUTIVE DIRECTOR
Submitted By (Co./ Ind. Name)
SIN SOON TENG
EXECUTIVE CHAIRMAN AND GROUP CHIEF EXECUTIVE OFFICER
Description (Please provide a detailed description of the event in the box below)
This announcement has been prepared by the Company and its contents have been reviewed by the Company s sponsor, PrimePartners Corporate Finance Pte. Ltd. (the "Sponsor") in accordance with Rules 226(2)(b) and 753(2) of the Singapore Exchange Securities Trading Limited (the "SGX-ST") Listing Manual Section B: Rules of Catalist.
This announcement has not been examined or approved by the SGX-ST. The SGX-ST assumes no responsibility for the contents of this announcement, including the correctness of any of the statements or opinions made or reports contained in this announcement.
The contact person for the Sponsor is Ms. Gillian Goh, Director, Head of Continuing Sponsorship (Mailing Address: 16 Collyer Quay, #10-00 Income at Raffles, Singapore 049318 and Email: firstname.lastname@example.org).
Name Of Person
Ang Seng Heng
Is effective date of cessation known?
If yes, please provide the date
Detailed Reason (s) for cessation
To be in line with Provision 2.2 and 2.3 of the Code of Corporate Governance 2018 that require "Independent Directors make up a majority of the Board where the Chairman is not independent" and "Non-executive Directors make up a majority of the Board respectively".
After having interviewed Mr. Ang Seng Heng and to the best of its knowledge, the Company's Sponsor, PrimePartners Corporate Finance Pte. Ltd., is satisfied that save as disclosed in this announcement, there are no other material reasons for the cessation of Mr. Ang Seng Heng as the Executive Director of the Company.
Are there any unresolved differences in opinion on material matters between the person and the board of directors, including matters which would have a material impact on the group or its financial reporting?
Is there any matter in relation to the cessation that needs to be brought to the attention of the shareholders of the listed issuer?
Any other relevant information to be provided to shareholders of the listed issuer?
Date of Appointment to current position
Does the AC have a minimum of 3 members (taking into account this cessation)?
Number of Independent Directors currently resident in Singapore (taking into account this cessation)
Number of cessations of appointments specified in Listing Rule 704 (7) or Catalist Rule 704 (6) over the past 12 months
Job Title (e.g. Lead ID, AC Chairman, AC Member etc.)
Role and responsibilities
Executive Director and Head of Operations. He is responsible for the overall planning of manpower and resources for the various projects undertaken by the Group and is also in charge of liaising with client representatives, regulatory authorities
and consultants which the Group is involved in. Although, Mr Ang Seng Heng steps down as Executive Director, he will continue in role as Head of Operations.
Familial relationship with any director and/ or substantial shareholder of the listed issuer or of any of its principal subsidiaries
Shareholding interest in the listed issuer and its subsidiaries?
Direct interest of 15,400,000 shares in Sysma Holdings Limited
Past (for the last 5 years)
Sysma Construction Pte. Ltd.
Sysma Builder (Malaysia) Sdn Bhd
PT. Sysma Cheldon Construction Indonesia
North Shore Investments Pte Ltd
Sysma Land Pte. Ltd.
East Development Pte. Ltd.